Learn about the types of permanent life insurance and find out which is best for you & your family.
Whole Life insurance (sometimes called Ordinary Life) is the most common type of permanent insurance policy. It remains in force during your entire lifetime, and offers a death benefit along with a savings vehicle (called the cash value). Some companies pay a dividend, which is a return of excess premiums.
Universal (or Adjustable) Life insurance offers more flexibility than whole life insurance. As with Whole Life policies, Universal Life insurance provides a savings vehicle (cash value account) which generally earns a guaranteed rate of interest. The cash value belongs to you, the policy owner, and you may withdraw or borrow against it as provided for in the policy.
These policies also give you the option to adjust the death benefit and/or premium payments, within limits, to fit your situation. For example, if there is enough money in your cash value account to cover the costs, you have the option of reducing your premium payments. This can be a useful feature if your economic situation has suddenly changed. However, if you stop or reduce your premiums and the saving accumulation gets used up, the policy might lapse and your life insurance coverage could end.
This article adapted from information provided by the Insurance Information Institute
We think what our satisfied customers say about us in their life insurance reviews, says more than any advertising campaign ever could. A life insurance rating from customers is a great way to see what people really think about a company. The reviews you see below are from customers who purchased life insurance policies through AIG Direct. After a customer buys life insurance from us we ask them for a review. We post all reviews unless their content is obscene, inflammatory or not factually accurate. We ask customers to rate our services and then produce an overall rating as shown below. We encourage you to read our life insurance reviews and see just how happy our customers are. Endorsements/Testimonials present should not be construed as a recommendation to purchase or an indication of the value of any product or service. The speaker of the Endorsement/Testimonial is not affiliated with the Company nor monetary consideration was provided.